New York, NY 10002 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The neighborhood's median sold price is 1,557,000, which should be treated as the primary indicator of current market value and recent transaction activity; coupled with a median days on market of 615, this suggests slower sales velocity and that reported transactions reflect extended marketing periods rather than rapid turnover.
2. The median listing price is 1,899,999, materially above the median sold price of 1,557,000, indicating potential pricing friction where seller expectations exceed recent realized values and may require concessions or longer time to close.
3. The median price per square foot is 1,670 and price year-over-year trend is up, while median market rent is 5,800 and rent year-over-year trend is up; together these signals point to continuing price appreciation pressure supported by rising rents, with a neutral market temperature that suggests a balanced negotiation environment in many segments.
4. Current 30-year fixed mortgage rates average 6.63% in the area and interest rate pressure is described as elevated, which may constrain purchasing power and slow transaction velocity despite upward price and rent trends; expect financing sensitivity on price acceptance and longer marketing timelines.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.